California Public Employees Retirement System Has $123.23 Million Stock Position in U.S. Bancorp (NYSE:USB)

California Public Employees Retirement System lowered its stake in U.S. Bancorp (NYSE:USB) by 2.4% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 2,847,252 shares of the financial services provider’s stock after selling 70,199 shares during the period. California Public Employees Retirement System’s holdings in U.S. Bancorp were worth $123,229,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of USB. CGC Financial Services LLC bought a new position in shares of U.S. Bancorp during the fourth quarter valued at $25,000. BKM Wealth Management LLC bought a new position in shares of U.S. Bancorp during the fourth quarter valued at $26,000. Planned Solutions Inc. bought a new position in shares of U.S. Bancorp during the fourth quarter valued at $27,000. Legacy Financial Group LLC bought a new position in shares of U.S. Bancorp during the third quarter valued at $30,000. Finally, Naples Money Management LLC bought a new position in shares of U.S. Bancorp during the fourth quarter valued at $30,000. Institutional investors own 77.60% of the company’s stock.

Insider Buying and Selling at U.S. Bancorp

In other U.S. Bancorp news, insider Terrance R. Dolan sold 26,583 shares of the business’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $43.37, for a total value of $1,152,904.71. Following the transaction, the insider now directly owns 144,236 shares in the company, valued at $6,255,515.32. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other U.S. Bancorp news, insider Terrance R. Dolan sold 26,583 shares of the business’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $43.37, for a total value of $1,152,904.71. Following the transaction, the insider now directly owns 144,236 shares in the company, valued at $6,255,515.32. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP James L. Chosy sold 21,582 shares of the business’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $41.47, for a total transaction of $895,005.54. Following the completion of the transaction, the executive vice president now owns 164,880 shares in the company, valued at $6,837,573.60. The disclosure for this sale can be found here. Corporate insiders own 0.23% of the company’s stock.

U.S. Bancorp Stock Down 0.2 %

Shares of NYSE USB opened at $40.96 on Wednesday. The stock has a market capitalization of $63.82 billion, a P/E ratio of 13.56, a P/E/G ratio of 2.13 and a beta of 1.05. The company has a 50-day moving average price of $42.34 and a 200-day moving average price of $40.03. U.S. Bancorp has a 1 year low of $27.27 and a 1 year high of $45.85. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.82 and a quick ratio of 0.81.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings results on Wednesday, April 17th. The financial services provider reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.01. U.S. Bancorp had a net margin of 12.13% and a return on equity of 13.93%. The business had revenue of $6.72 billion for the quarter, compared to analysts’ expectations of $6.71 billion. During the same period in the previous year, the company earned $1.16 earnings per share. The firm’s revenue for the quarter was down 6.4% compared to the same quarter last year. On average, equities research analysts forecast that U.S. Bancorp will post 3.86 EPS for the current fiscal year.

U.S. Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 29th were issued a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a yield of 4.79%. The ex-dividend date of this dividend was Wednesday, March 27th. U.S. Bancorp’s dividend payout ratio (DPR) is presently 64.90%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on USB shares. Compass Point raised shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and raised their price target for the company from $46.00 to $49.00 in a research note on Friday, March 22nd. HSBC raised shares of U.S. Bancorp from a “hold” rating to a “buy” rating and lifted their target price for the stock from $47.00 to $53.00 in a research note on Thursday, March 28th. TheStreet raised shares of U.S. Bancorp from a “c+” rating to a “b-” rating in a research note on Tuesday, December 26th. Jefferies Financial Group lifted their target price on shares of U.S. Bancorp from $44.00 to $46.00 and gave the stock a “hold” rating in a research note on Monday, April 8th. Finally, Wells Fargo & Company lowered their target price on shares of U.S. Bancorp from $50.00 to $48.00 and set an “overweight” rating for the company in a research note on Thursday, April 18th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $46.14.

U.S. Bancorp Company Profile

U.S. Bancorp, a financial services holding company, provides various financial services to individuals, businesses, institutional organizations, governmental entities, and other financial institutions in the United States. It operates through Wealth, Corporate, Commercial and Institutional Banking; Consumer and Business Banking; Payment Services; and Treasury and Corporate Support segments.